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American Shared Hospital Services (NYSE American: AMS) is a leading provider of comprehensive financial and turnkey solutions to cancer treatment centers, hospitals, and large cancer networks worldwide. With over 100 years of industry experience, the management team at American Shared Hospital Services (ASHS) boasts unparalleled expertise in radiosurgery and radiation therapy services.
The company offers a diverse range of advanced medical equipment including stereotactic radiosurgery units, advanced radiation therapy devices, and related equipment. Through its subsidiaries, ASHS operates under three primary segments: Gamma Knife Operations, Advanced Radiation Therapy Equipment and Services, and Proton Beam Radiation Therapy Operations. The company's flagship products include the Gamma Knife, known for its precision in treating brain tumors and other intracranial conditions, as well as sophisticated linear accelerators and proton beam therapy systems.
ASHS has built a reputation for providing vendor-agnostic financial support, allowing flexibility and adaptability in acquiring top-of-the-line medical equipment. The company partners with major Original Equipment Manufacturers (OEMs) to ensure access to cutting-edge clinical treatment systems and software.
Recent strategic moves include the acquisition of a 60% majority equity interest in three Rhode Island cancer centers, which is expected to add $9-$10 million in annual revenue and significantly boost the company's backlog to over $210 million. This acquisition underscores ASHS's commitment to expanding its footprint in the U.S. and enhancing its product offerings.
Financially, ASHS showed solid performance by generating a total revenue of $5.7 million in Q4 2023, a 13.1% increase compared to the same period in the previous year. The company also reported a gross margin increase to 49.4%, reflecting continued efficiencies and operating leverage.
Leadership changes have also been pivotal in ASHS's recent trajectory. Following the sudden passing of CEO Peter Gaccione, Ray Stachowiak, the Executive Chairman, has taken on the role of CEO, while Craig Tagawa has been appointed President and Chief Operating Officer. These changes aim to strengthen the company's strategic direction and operational efficiency.
Looking forward, ASHS remains focused on expanding its international presence, completing significant equipment upgrades like the Gamma Knife Esprit system at PeaceHealth Sacred Heart Medical Center, and maintaining strong financial health to support future growth initiatives.
American Shared Hospital Services (AMS) reported strong second-quarter results for 2022, achieving total revenue of $5,034,000, up 12.5% compared to the same period in 2021, marking the highest revenue since Q3 2019. Proton therapy revenue soared by 49%, while Gamma Knife revenue fell by 6.9%. Net income reached $497,000 or $0.08 per share, a notable increase from a net loss of $87,000 in Q2 2021. AMS's cash reserves also expanded to $11,967,000, providing the company with substantial resources for growth initiatives.
American Shared Hospital Services (NYSE American: AMS) will hold a quarterly conference call on August 12, 2022, to discuss its second quarter 2022 financial results. The results will be released after market close on August 11, 2022. Interested participants can join the call by dialing 1 (844) 413-3972 and accessing the webcast through the Company’s website at www.ashs.com. A replay will be available until August 19, 2022.
American Shared Hospital Services (AMS) reported a total revenue increase of 11.1% to $4,847,000 in Q1 2022, driven by a 33.2% increase in proton therapy revenue. Operating income surged to $600,000, a 567% increase, while net income reached $269,000 or $0.04 per share. Adjusted EBITDA grew by 20.1% to $1,922,000. AMS also announced a joint venture in Puebla, Mexico for a new radiation therapy facility. Cash reserves stood at $8.4 million with shareholders' equity at $24.72 million as of March 31, 2022.
American Shared Hospital Services (AMS) announced the hiring of Timothy J. Keel as Vice President of Sales and Marketing, effective May 3, 2022. Keel brings over 30 years of experience in healthcare finance, having previously worked at Dext Capital, BankAmerica, and Citibank. CEO Ray Stachowiak emphasized that Keel's expertise will enhance AMS's sales efforts. The company also mentioned a joint venture to install a linear accelerator at a radiation therapy center in Puebla, Mexico, marking its third international project.
American Shared Hospital Services (NYSE American: AMS) will host a quarterly conference call on May 12, 2022, at 3:00 PM ET to discuss its first quarter 2022 financial results. A press release detailing these results will be issued premarket on the same day. Interested parties can participate by calling 1 (844) 413-3972 or accessing a simultaneous webcast on the company's website. AMS specializes in advanced radiation therapy technologies, including Gamma Knife radiosurgery and proton therapy, positioning itself as a leader in non-invasive tumor treatments.
American Shared Hospital Services (AMS) has scheduled its Annual Meeting of Shareholders for June 21, 2022, at 8:30 a.m. PST. Due to COVID-19, the meeting will be virtual-only, prioritizing shareholder safety. Shareholders eligible to vote will be determined as of April 22, 2022. AMS specializes in providing advanced technology solutions for stereotactic radiosurgery and radiation therapy, including Gamma Knife equipment for treating brain tumors and other conditions. The press release cautions about various risks affecting the company’s growth and financial health.
American Shared Hospital Services (AMS) announces a joint venture to establish a cancer treatment facility in Puebla, Mexico, enhancing its international strategy. AMS will hold 85% ownership in the new company, responsible for upgrading a radiation therapy machine and providing advanced treatment options, including IMRT and radiosurgery. The facility aims to serve a region of over six million people, eliminating the need for long-distance travel for treatments. The facility is expected to be operational by early 2023, pending approvals.
American Shared Hospital Services (AMS) reported a strong Q4 2021, with revenue reaching $4.69 million, a 1.8% increase from Q4 2020.
Proton therapy revenue rose 20.1% to $1.68 million, while Gamma Knife revenue fell 6.3% to $3 million. Operating income was $723,000, compared to an $8.54 million loss in Q4 2020. For the full year, revenue decreased 1.2% to $17.63 million, but operating income improved significantly from a loss of $9.46 million in 2020 to a profit of $1.35 million. Cash at year-end was $8.26 million, indicating strong liquidity.
American Shared Hospital Services (NYSE American: AMS) will hold a quarterly conference call on March 24, 2022, at 4:00pm ET to discuss its Q4 and year-end 2021 financial results. The financial results press release will be available pre-market on the same day. AMS specializes in providing technology solutions for stereotactic radiosurgery and advanced radiation therapy equipment. It is renowned for Gamma Knife radiosurgery systems and offers services in proton therapy and advanced imaging systems. For more details, visit ashs.com.
American Shared Hospital Services (AMS) reported preliminary Q4 2021 revenue of approximately $4.7 million, marking the highest quarterly revenue since the onset of the COVID-19 pandemic and stable compared to Q4 2020. For the full year, revenue totaled about $17.7 million, consistent with 2020 figures. The company noted improved operating income due to lower costs of revenue. Cash reserves increased to over $8 million, bolstered by a successful refinancing in Q2 2021. The final audited results will be released in late March 2022, accompanied by a quarterly conference call.
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